Bandula On Foreign Investment Withdrawal

Joint opposition MP Bandula Gunawardane alleged yesterday that  as much as US $ 2.8 billion invested in               Sri Lanka’s Treasury Bonds has been withdrawn by their investors in recent times. This has  caused a foreign exchange crisis, he said. US $ 4 billion had been sold in the market during the past year. Mr. Gunawardane said this was done to prevent the further depreciation of rupee against the US dollar, but it was devalued to nearly 150. As a result, he said a balance of payment crisis had been occurred. “Today, we do not have sufficient foreign remittances,” he concluded.